Comparative data from the income statement of Ivanhoe Corporation are shown below. 2024 2023 Net sales $759,000 $608,000 Cost of goods sold 531,300 373,920 Gross profit 227,700 234,080 Operating expenses 144,210 109.620 Profit before income tax 83,490 124,460 Income tax expense 20,873 31,115 Profit for the year $62,617 $93,345 Prepare a vertical analysis for Ivanhoe Corporation. (Round percentage answers to 1 decimal place, e.g. 52.7%.) IVANHOE CORPORATION Income Statement Year Ended December 31 2024 Amount Percent 2023 Amount Percent